Credit reports impact the price we pay for many products like credit card interest rates and insurance. The CFPB will help consumers with credit reporting issues. Previously, the credit agencies didn’t always take action when a consumer notified them of a problem. Before the CFPB began offering help, consumers had no choice but to hire a lawyer if they wanted the error removed.

If you can’t get an agency to fix an issue, report it to the CFPB. The agency will help with complaints, mistakes, improper use of a credit report, your inability to get a score or report, problems with credit monitoring or identity protection services.

How to fix credit report mistakes

You shouldn’t rush to file a complaint with the CFPB just because you notice a credit report mistake. You should still try to correct it yourself. The process is explained at the end of your credit report.

If you find a mistake, be patient with the dispute process The complaint process is timely and doesn’t always yield the results you want. If you get nowhere, file a complaint with the CFPB. The government agency might be able to help mediate a solution.

The government monitors the complaints looking for patterns and trends. If they find a pattern, the CFPB considers new rules to prevent future issues.

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